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ADMS 1500 8

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Administrative Studies
ADMS 1500
Paul Evans

Chapter 8Differential cost and revenues vs Sunk costsThe role of capacityHow to decide whether to make or buyThe difference between a shortterm and a longterm decision Relevant Information Information is relevant to a decision problem whenIt has bearing on the futureIt differs among competing alternativesIdentifying Relevant Costs and Benefits Revenues are typically variable they rise or fall in proportion to output A simple approach to cost behaviour is that any cost may be classified as either Variable rises or falls in proportion to output or Fixed it is not affected by output This is closely related to the idea of differential costs and revenues a differential cost or revenue is one that occurs as a result of a decision Some fixed cost could be relevant ie outsourcingIdentifying Relevant Costs and BenefitsS
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